All Forum Posts by: Nick Patterson

Wait... I don't understand. This is one 4 unit building? You mention 4 different bank accounts? Why? For me, we have one bank account per building. Use a PM software to keep track. Why over complicate it. Last, charge a move in fee. Security deposits are nothing but a liability in chicago a.

Surprised no one said the old craigslist That works for us Also get tons of leads when we list in the MLS- but then have to pay commissions

Oh I see. Once you double the rents it will be a 6.5%. The question is if you flip the property there is no meat on the bone for the new buyer... what about converting the 2 flat to a single family and selling to an end user. I have a feeling you are taking about the new frame listing on Rockwell? (West of western)

Is the 6.5% cap pro forma? Is this property west of western?

Small jobs are the hardest- nobody is reliable over time. I have started using task rabbit to have handyman bid on jobs. Much easier

Branson is a fun town. Would you be leaving a unit avail for yourself as a vacation home? For properties farther away it's easier the more units you have- with economies of scale. So if planning to scale in the Branson area 4 units is a good start

Haha For 2- always get a credit instead of having seller fix it. You think they care about quality? No, they want it fixed fast and cheap For 3- that's super funny. It depends on about a thousand factors. Impossible to make a blanket statement like that.

I like small community banks where you can deal directly with a decision maker.

For last paragraph-- check out exam smart It's a list of 800 questions that have been on past exams. Study the old questions and you will pass.

If you own multiple buildings you can consolidate all insurnace into one master policy. Bundle and save....